NASDAQ (NASDAQ:COMP) Archives - Page 60 of 100

Gold's Strong Move Continues Into 2018

Posted on January 2, 2018 by The INO.com Team

Hello traders everywhere. Gold hit its highest levels since late September on Tuesday, extending a year-end rally that saw the metal rise 6.3% in the last three weeks of 2017. An early morning drop by the Dollar helped drive gold prices above $1,315 an ounce in early trading.

The weaker dollar, which posted its most significant annual drop since 2003 last year, helped to lift gold by more than 11% in 2017. The metal surged $78 an ounce over the last three weeks of the year alone.

After ending the year on a down note, falling from an all-time high above $19,000, Bitcoin is fighting back this afternoon after opening the year lower on Monday and is currently trading up 3% on the day trading at the $13,800 level.

Key levels to watch this week: Continue reading "Gold's Strong Move Continues Into 2018" →

Bitcoin Headed For Worst Week Since 2013

Posted on December 22, 2017December 22, 2017 by The INO.com Team

Hello traders everywhere. The darling investment of the month is experiencing a significant sell-off, in fact, the worst sell-off since 2013. Bitcoin (BRTI) opened the week at 19,046.70 and hit a session low of 12,291.06 this morning, a -35% loss, but it has backed off the lows to trade around the 13,000 level.

Coinbase, one of the biggest bitcoin marketplaces, announced at 11 am this morning that all buying and selling is temporarily disabled amid the price rout making it impossible for investors to cash out of their trades. This isn't a new phenomenon for Coinbase, as they have struggled in recent months to keep up with high demand. On Dec. 12, the company temporarily suspended buys and sells of Ethereum twice in one day.

Is this panic selling by new investors or business as usual for Bitcoin? New investors in Bitcoin may not realize how volatile the cryptocurrency has been it's entire life to this point. It's not uncommon to a significant sell-off that can last months, only to see the trend reverse and head higher. Bitcoin itself is exceptionally resilient.

Key levels to watch next week: Continue reading "Bitcoin Headed For Worst Week Since 2013" →

Where We Stand After The Tax Reform Vote

Posted on December 20, 2017December 20, 2017 by The INO.com Team

Hello traders everywhere. The Republican-controlled U.S. House of Representatives passed a sweeping tax bill which will be the most significant overhaul of the U.S. tax code in over 30 years. The Senate had already voted in favor of the bill, and now we wait for President Trump to sign the bill into effect.

The proposed changes include cutting the corporate tax rate to 21% from 35% from Jan. 1, which could boost company earnings and pave the way for higher dividends and stock buybacks.

The three major stock indexes are holding steady near record highs, but relatively unchanged on the day after the bill was passed. Stock futures had risen sharply before the open, with Dow futures climbing more than 100 points only to sharply fall from those highs as the market opened for regular trading. The cause for the drop was a rapid rise in interest rates that saw the 10-year U.S. yield hit 2.497%, its highest level since March 21, while the two-year yield rose to its highest level since October of 2008.

Key levels to watch this week: Continue reading "Where We Stand After The Tax Reform Vote" →

Stock Market Marches Higher

Posted on December 15, 2017 by The INO.com Team

Hello traders everywhere. All three of the major indexes are marching along to record highs and looking to close the week out at record highs. This move higher is primarily due to Tax Reform, which is expected to be delivered by the GOP this afternoon.

Once delivered the Republican leaders hope to hold a vote on the legislation in the full House and Senate next week. President Donald Trump touted a tax cut regularly during his campaign and wanted an approved bill on his desk for his signature before Christmas.

It would be Trump's first major legislative victory since taking office in January.

Bitcoin is close to another all-time high of almost $18,000 on the Bitstamp exchange on Friday, up 9% on the day, even as warnings grow over the risks of investing in the highly volatile and speculative instrument. This record push is partly due to the CME futures that are going to start trading on Sunday, which should see significant trading vs. the lighter volume that the CBOE saw last week.

Key levels to watch next week:
S&P 500 (CME:SP500): 2,598.87
Dow (INDEX:DJI): 23,545.02
NASDAQ (NASDAQ:COMP): 6,734.13
Gold (NYMEX:GC.G18.E): 1,242.30
Crude Oil (NYMEX:CL.F18.E): 57.83
U.S. Dollar (NYBOT:DX.H18.E): 92.13
Bitcoin (CME:BRTI): 8,889.74

Every Success,
Jeremy Lutz
INO.com and MarketClub.com

Ready, Set, Hike

Posted on December 13, 2017 by The INO.com Team

Hello traders everywhere. All three of the major indexes have advanced today with the DOW and S&P 500 hitting new intra-day records as technology stocks gained. Traders took positions, overlooking concerns of benign inflation ahead of the Federal Reserve announcement later in the day.

It's widely expected that the Fed will announce a rise in interest rates by 25 basis points, but more significantly, it may give its strongest hint yet on how the Trump administration's tax overhaul could affect the U.S. economy.

Key levels to watch next week:
S&P 500 (CME:SP500): 2,578.24
Dow (INDEX:DJI): 23,360.58
NASDAQ (NASDAQ:COMP): 6,734.13
Gold (NYMEX:GC.G18.E): 1,253.40
Crude Oil (NYMEX:CL.F18.E): 56.85
U.S. Dollar (NYBOT:DX.H18.E): 92.13
Bitcoin (CME:BRTI): 7,750.62